Timo Teräsvirta is Professor Emeritus, Aarhus University, and member of CREATES. He received his DPolSc (Econometrics) from the University of Helsinki 1970. He has been Professor of Statistics, University of Helsinki, 1976-1980, Research Fellow, Research Institute of the Finnish Economy, 1980-1989, Research Fellow, Norges Bank, 1992-1993, 1994, 2000, Professor of Econometrics, Stockholm School of Economics, 1994-2006, and Distinguished Senior Fellow at Hanken School of Economics, Helsinki, 2001-2013. He is Adjoint Professor, Queensland University of Technology, Brisbane, 2013-2016. Teräsvirta is elected member of the International Statistical Institute (since 1978), Societas Scientiarum Fennica, Helsinki (since 1978), and the Royal Academy of Sciences, Stockholm (since 2001). He is Distinguished Author of Journal of Applied Econometrics and Fellow of Journal of Econometrics. His research and teaching interests include nonlinear time series econometrics and modelling volatility